Why Travel Insurance?

Why  Travel  Insurance?

By Mr. Suresh Sugathan, Bajaj Allianz General Insurance

A lot of planning goes into ensuring that your holidays are memorable, happy and safe. From fixing travel dates to finding the best deals on hotels and airlines, from creating an itinerary to getting your visa and arranging for forex- the list is long.

Every detail is ticked off with military precision to avoid unexpected glitches. However, not many think about a travel insurance plan to secure their trip as a part of their checklist.

Imagine landing in Sydney to kick start your Australian adventure and your airline informs you that your baggage is missing.

Mr. Suresh Sugathan,
Bajaj Allianz General Insurance

Or trying out an exotic sea food dish in a New York restaurant, only to land up in a hospital at the mercy of the expensive American healthcare system. Or worse, a cyclone on the coast of Indonesia costing you your trip to Bali.

Such unexpected incidences would not only hamper the holiday spirit, but could also leave a dent on the expenses made for the travel plan.

Here, a travel insurance would come handy.

A quick look at our claims data is enough to show us that most common issues faced by Indian travelers are medical and accidental emergencies, trip delays, trip cancellations, loss of baggage and passport.

For all the unwelcome troubles that you may face while getting away for a while on a holiday, you would be relieved to know that all of these are covered under travel insurance policies.

1.     Medical emergencies &  Personal Accident..!

Medical emergencies in foreign countries result in expensive treatment. Moreover, limited forex in an unfamiliar territory would weigh down heavily on your pocket and mind.

Travel insurance covers hospitalization expenses due to unexpected medical emergencies, illness or accidents when abroad.

2.     Trip delay or cancellation..!

Sometimes, you might need to cancel or cut short a trip due to an emergency. The monetary loss due to cancellation of bookings is covered in a travel insurance which would surely bring in some respite.

This is a cover included in most of the travel insurance policies.

3.     Loss / delay in baggage..!

Imagine landing at the airport all excited about exploring the place. You wait to pick up your baggage only to learn from your airline that it has been lost in transit!

At this point of time, shopping for essentials becomes a must as recovering your lost luggage may take anything from a few hours to a few days. Your travel insurance reimburses you this cost since most of the insurers provide a standard limit as compensation in their policy.

However, please note that such loss or delay of baggage claim is admissible only if the destination is not the country of residence of the insured.

4.     Loss of passport..!

Losing your passport in a foreign country can be a nightmare. In the face of such a situation, you will need to procure another passport at your own expense, which is then reimbursed by your travel insurer.

It is, however, essential that the loss be reported to the appropriate police authorities within 24 hours.

Today, a lot of travel plans are available that cover you against incidents the moment you step out of your home for the holiday.  These plans also provide cover for burglary while you are away on vacation.

Since the premium of travel policies constitute a small component of your total related expenditure, it will never add an extra burden to your budget.

So if you happen to twist your ankle while paddling through the streets of Singapore or lose you baggage while in transit to Kuala Lumpur, don’t panic as your travel insurance will take care of it. Tie up all the loose ends and be on the way for a wonderful and safe holiday. 

About the author..

Mr. Suresh Sugathan is Head-Health and Travel Insurance, Bajaj Allianz General Insurance

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